Friendly

Surcharge Pricing, Avocados and Australia

May 6th, 2019 (Updated 03/23/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Riddle: What do Mexican avocados, Australia, and an impending guacpocalypse have in common? The answer is…. Surcharges: I got an idea to write this post in Santa Barbara, California in November, where I saw a new surcharge applied at restaurants: There was an avocado surcharge as a result of a supply shortage due to a growers’ strike in Michoacán, Mexico: While I did write a note to the management team that $15 for a soggy Quesadilla with no avocado was NOT reasonable (true story), it was not enough for a blog post. The recent guacpocalypse caused by the fuel shortages...

Read More

Manage

When Dynamic Pricing and Profit Meet

May 6th, 2019 (Updated 03/23/2021)

Duncan Hendy

When Dynamic Pricing and Profit Meet Key Takeaways: You need to respond rapidly to changes in prices to make sure you stay competitive and profitable Using algorithmic optimization to set up pricing guidelines means you can test any modifications to pricing strategies before going live with them When it comes to defining and managing your pricing strategy, having the ability not only to calculate all product pricing types based on accurate simulations but to publish them quickly will determine the success of your pricing policy. Pricefx’s PriceBuilder allows you to do just that and more… PriceBuilder: Seamless Integration Your Way...

Read More

Realize

RebateManager: Don’t Get Stuck in Rebate Management Hell

May 8th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

RebateManager: Don’t Get Stuck in Rebate Management Hell Key Takeaways: Handling hundreds of rebate management programs can be time intensive and if not done accurately, could cost your company Implementing a rebate management tool could take years and become extremely expensive because of changes in staff and strategy RebateManager is fast to implement and use so you don’t waste money or time Ask any rebate manager, and they’ll tell you that speed and accuracy are two of the most important factors that they need to do their job well. This becomes even more apparent when there are multiple kinds of...

Read More

Insight

PriceOptimizer: The Art of Not Leaving Money on the Table

May 6th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

Key Takeaways: Expansions in product, customer base, regions served and more make it difficult to serve the optimal prices PriceOptimizer can cluster by buying behavior so that pricing professionals can give the right price to the right segment PriceOptimizer uses machine learning to optimize prices across several segments Imagine you have a global sporting goods store that sells every sporting product that you could possibly dream of. Your store in England sells soccer gear including English team jerseys and other similar gear at the same price that you’d sell them in the US. However, the people in the England would...

Read More

Realize

Use PriceAnalyzer to Get the Most Out of Your Pricing Data

May 6th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

Use PriceAnalyzer to Get the Most out of Your Pricing Data If you’re in the pricing industry, you’ve probably heard it mentioned multiple times over how a 1% increase in price yields an 8.7% increase in profits. Such an increase is definitely something that any company would leap at the opportunity to gain. However, the journey to get there is not straight forward. To get astronomical increases in profits, you first must convince the sales team to adopt a method of increasing prices, not a volume to reach their and the company’s goals. If you happen to make that hard...

Read More

Realize

Unlock the Potential of Better Deals with Informed Quoting

May 1st, 2019 (Updated 03/23/2021)

Duncan Hendy

Key Takeaways: Responding to quote requests with higher accuracy by drawing on pertinent and real-time account-based pricing information means shortening time to quote to a matter of minutes and closing more deals Maximize sales potential and increase your margins according to volume and list prices by giving your sales team easy access to properly configured pricing boundaries Being able to respond to quote requests on an individual basis with higher accuracy and confidence by drawing on pertinent and real-time account-based pricing information means shortening time to quote to a matter of minutes and closing more deals. Never leave your prospects...

Read More

Manage

The Power to Create and Define Discounts of Any Complexity

May 2nd, 2019 (Updated 03/23/2021)

Duncan Hendy

Key Takeaways: Having a deep understanding of profit margins and being able to leverage those insights quickly into your promotion criteria, however complex, without affecting your bottom line are the keys to profitable discounting With PromotionManager, you can publish your promotions and update your pricing fast to all of your external systems, including e-commerce and ERP Life can get complex, pricing even more so. When you are determining the structure of your promotional pricing, it is not just a case of making generous offers to win the sale. Having a deep understanding of profit margins and being able to leverage...

Read More

Realize

The Future of Pricing Software is…

May 2nd, 2019 (Updated 03/23/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Key Takeaways: Multiple industries have been disrupted by new technology because incumbents were comfortable with the status quo If pricing professionals don’t start adopting forward-thinking views of their data, there will of those who do The future of pricing is: fast and& flexible, takes into account omni-channel processes, is customer-centric, intelligent, integrated, and democratic As you may have guessed, pricing is something that I am extremely passionate about so no wonder I found my way to a company like Pricefx. One of the things that I do here is speak about pricing and its impact to business. More importantly though,...

Read More

Thank You to Pricefx Customers for a Successful First Quarter

May 5th, 2019 (Updated 03/23/2021)

Pricefx ended Q1 by gaining 10 more customers globally. Our customers’ support and trust in our vision for a fast, flexible and customer-centric solution is a reason why we continue to grow. We’ve released a timeline of some of our customers’ quotes and opinions of us throughout the year If you have been following us for a while, you will have seen that we closed our series B round of investments at the end of last year and had our most successful year to date. Thankfully, our upward momentum has continued by closing Q1 successfully with a growth that cannot...

Read More

Fast

Why Your Sales Team Isn’t Negotiating Prices: Train Them to Start

May 2nd, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

Key Takeaways:  A lot of sales teams are great at closing deals, but not all are great at negotiating at the price you set. Build confidence with proper project planning and training to achieve pricing success Search the web and you will find millions of results showing customers how to negotiate for a lower price. But an honest conversation with most sales people will reveal that customers might not need such an education in pricing negotiation – they do well on their own. According to experienced pricing expert and author Joanne Smith, “competitive business” is the main objection to pricing...

Read More

Insight

Price Optimization – What Is It – How to Get It

May 17th, 2019 (Updated 04/26/2021)

Ted Hartnell
Chief Architect and Developer at Scientific Strategy

Understanding the relationship between your pricing strategy, that of your competitors and your customers’ willingness to pay those prices was once exclusively the domain of large corporations. But with a recent breakthrough in artificial intelligence, powerful, actionable pricing insights have become accessible to anyone selling online. And that means you, too.   Meet Price Optimization, Your New Best Friend Before I make introductions, it is important to explain that Price Optimization is not the same as Price Monitoring and Price Matching. Price Optimization is price setting by the Willingness To Pay (WTP) of customers. Due to the recent advances in...

Read More

Insight

The Best Pricing Research Methods for B2B Organizations

November 15th, 2018 (Updated 03/23/2021)

Dr. Ian Tidswell

Key Takeaways: B2B businesses need to conduct structured pricing research. There are four ways to conduct B2B pricing research: direct price experiments, customer prospective opinions (conscious and unconscious), historical experience and hybrid methods. Choosing the right pricing method for your organization is dependent on three factors: the number of new products, the number of products and the weight of investment in research. Having a robust way to assess customers’ Willingness-to-Pay (WTP) is a key capability for all companies. It’s surprising to me how many B2B companies rely on gut-feel or ad hoc processes to get this done. This may be...

Read More

Fast

How to Capitalize on Speed to Improve Pricing Processes

May 1st, 2019 (Updated 03/24/2021)

Tolu Oke
Content Marketer at Pricefx

Key Takeaways: If you want to be competitive in pricing, you will need to move faster. There are three key ways you can start using speed and efficiency to determine your pricing At the Davos World Economic Forum Digital Transformation of Industries Panel, several panelists remarked on the role that speed plays in shaping the future of business. We could not agree with them more. In fact, when it comes to pricing strategies, speed might play a bigger role in shaping the outcome of the strategy. It’s not always enough to have a good product. Setting the right price at...

Read More

Insight

Lessons in Retail: Amazon’s Speed in Dynamic Pricing Leads to Disruption

May 1st, 2019 (Updated 03/24/2021)

Garth Hoff
Principal Pricing Solution Engineer at Pricefx

Omnichannel and B2B firms cannot afford to be slow in response to consumer demands. One of the ways Amazon disrupts its industry is by using dynamic pricing. Pricefx’s Price Builder and Price Analyzer help users accurately leverage the power of dynamic pricing. Both Meg Whitman of HPE and Mark Benioff of Salesforce.com chose to focus on speed at the 2016 Davos World Economic Forum Digital Transformation of Industries panel. Whitman said, “My view is that the future belongs to the fast,” and Benioff built on this by noting, “Speed is the new currency of business.” These reflections on speed and...

Read More

Friendly

Dynamic Pricing? Yes, You Can!

February 28th, 2019 (Updated 03/23/2021)

Duncan Hendy

Article Breakdown: The future of the pricing industry, the trends that shape it and the latest developments on the market How using AI-driven algorithms to make optimal pricing decisions in real time helps your business increase revenues or profits How access to all your data across all channels and systems combined with powerful AI can drive your pricing decisions Traditionally, when we think of dynamic pricing, we think of large institutions with access to massive amounts of data. Not anymore. Time for you to take a slice of that pie. When Gabriel Smith, VP for Product Strategy at Pricefx, and...

Read More

Fast

The Future of Omni-Channel Pricing Is Here

May 1st, 2019 (Updated 03/23/2021)

Duncan Hendy

Key Takeaways: When selling across multiple channels, it is necessary to deliver your customers a consistent and fair experience that meets them on their terms and via their channel of choice. As pricing professionals, you need to make sure that you not only have access to all of your data, but that you can make sense of it and leverage it. Integrating different channels into an optimized omni-channel pricing strategy gives you the ability to move with speed, agility and deliver more perceived value to your customers. Love it or hate it, omni-channel e-commerce is something you are going to...

Read More

Fast

Speed Drives Sales, Time to Step on the Gas!

February 6th, 2019 (Updated 09/07/2021)

Garth Hoff
Principal Pricing Solution Engineer at Pricefx

Key Takeaways: Lengthy sales cycles lead to lost deals Prospective buyers have often already performed 57% of the buying cycle before contacting you Having the ability to align your pricing globally leads to more successful deal closing The longer a lead lingers, the more likely it’s lost. Ask any salesperson, not being able to react to opportunities in a timely fashion, with informed pricing, will leave you out in the competitive wilderness. So, if you are not leveraging a fast, dynamic price management solution into your sales process, you are setting yourself up for a financial fall. Time to take...

Read More

Insight

Price Management Solutions – A Truck, Tree and Prevention View

January 23rd, 2019 (Updated 03/24/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Key Takeaways: One issue that price management companies face is “The Truck”; having only one person who takes care of all or most of the pricing process Another issue that companies face is the “The Tree”; not having a system that can analyze and predict vulnerabilities in your pricing process Preventing these obstacles requires improving on the following factors: people, processes and systems At Pricefx, we speak to industry-leading companies every day about their pricing and quoting processes, and their opportunities to improve them. There are two recurring themes in these discussions, which I will call “The Truck” and “The...

Read More

FYI

Pricefx Is Proud to Be an SAP Gold Partner

September 25th, 2019 (Updated 03/24/2021)

Pricefx

Pricefx is a gold-level partner in the SAP® PartnerEdge® Build program, indicating its standing as a highly valued partner for price optimization solutions in the SAP App Center. We are the first ISV to reach this level for Build, which demonstrates the strong demand for innovative cloud-based pricing solutions. Read more about our SAP Gold Partner Status here. With Pricefx closing the most total SAP App Center transactions of any SAP partner, we have opportunities spanning North America, Latin America and EMEA. The SAP App Center provides customers with real-time access to more than 1,900 innovative partner solutions that complement...

Read More

Flexible

Pricefx’s Optimized Algorithmic Pricing, Now on SAP’s App Center

April 24th, 2019 (Updated 03/24/2021)

Pricefx’s Optimized Algorithmic Pricing What is Optimized Algorithmic. Optimized Algorithmic Pricing (OAP) by Pricefx is a solution built for SAP customers. It provides unique insight into how pricing impacts business profitability across products, customer segments, sales channels and geographic regions. Beyond the price waterfall, PriceAnalyzer provides real-time insights at scale. Built on the standard Pricefx platform, Pricefx OAP offers you complete control over the price setting processes with an easy-to- use and transparent calculation engine that can be tweaked on the fly by the business users. http:/www.pricefx.com/site/wp-content/uploads/2019/05/Optimized-Algorithmic-Pricing-by-Price-fx-on-SAPs-App-Center.mp4   How Can OAP Help You? Today’s complex digitally enabled business world demands...

Read More